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El Oasis - New Development - Marrakech.
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City: Marrakech
Country Morocco
Price: Call For Price |
Ref no:: kb724
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Full Description:
PROPERTY INVESTING
Developer - marketing - financing - rentals - furnishings -insurances - and overseas
conveyancing working together
Created to make investing in property overseas easier and safer
Reduce deposits - Optimise returns
Website, financial products, full marketing support and more
Our criteria include:
High capital growth
High rental yield
Low deposit
Bank guarantee
Guaranteed rental scheme
WHY MOROCCO?
Morocco is one of the hottest emerging property markets in the world
Prices predicted to double (100% growth in the next two years!). Source: The Times & Daily Telegraph
Prices are at least 50% less than European resorts
At the beginning of a potentially explosive market
Closest tropical location to UK, less than 3h flight away
Around 330 days of sunshine a year
Cost of living 3 times cheaper than Europe
3,500 km of coastline
Best road infrastructure in Africa
TOURISM AND VISION 2010
To raise tourism from the current level of 2 million tourists per year to 10 million by 2010
Tourism up 39% in 2006 at €3.75 billion
Open skies policy activated on 1st Jan 2006
Air traffic jumped 19% in 2006 alone
15 international airports
23 new routes created, including budget airlines
CAPITAL GAINS AND INHERITANCE TAX
Capital Gains Tax first 1- 5 years = 20% of profit (minimum of 3% of sales price)
Capital Gains Tax for 5-10 years = 10% of profit
Capital Gains Tax after 10 years = 0 % NO CAPITAL GAINS
No Inheritance Tax!
PERSONAL AND PROPERTY TAXES
Personal Income Tax on Property Rental - 3 years exempt, after that payable on 60% of rental income at 22% = 13% of rental income
Property Tax - 5 years exempt, after that payable at 13.5% on the rental value of the property
Garbage Tax of – 5 years exempt, after that 10% of property tax
RESORT
Green spaces covering 30 % of the resort
Communal swimming pools
Holistic SPA
Tennis
Commercial centre
FACILITIES
Shopping center
Full laundry facilities
Security and parking 24h
S.A.V. (after sales service)
24h plumbing, carpentry and electrical back-up on site
4 RENTAL PACKAGES AVAILABLE
3 year 10%pa return, insurance guaranteed
5 year 10%pa return, insurance guaranteed
10 year 10% pa return, insurance guaranteed
Variable letting through the on-site agency
CLOSING COSTS IN MOROCCO
The legal system is based on the Napoleonic code and similar to that in France and Spain. Clients should allow for an additional 6% of the purchase price.
Stamp duty 3.0%
Land registry 1.0%
Mortgage (1.0%) if applicable
Legal & Notary 1.0%
Total of 5.0%
Sundry expenses €350
EXIT STRATEGIES
Exit 1
Buy and hold 10 years - rental income, long term capital growth and no CGT
Exit 2
Sell before completion - no taxes applicable
Exit 3
Use as holiday home for 3-5 years - rentals plus capital growth, sell on before taxes become applicable
HOW DOES IT WORK?
Administration fee €2,200
25% Deposit upon Exchange of Contract
75% Mortgage upon Completion
Freehold title to all apartments
All monies paid covered with a Bank Guarantee! (VEFA) |
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Ref Number. kb724 |
